IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/SPECIAL CIVIL APPLICATION NO. 12112 of 2023 FOR APPROVAL AND SIGNATURE:

HONOURABLE MR. JUSTICE HEMANT M. PRACHCHHAK Sd/-

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Approved for Reporting Yes No No ==========================================================

DAKSHA NANAVATI Versus INVESTOR EDUCATION AND PROTECTION FUND AUTHORITY & ANR.

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Appearance:

MR SI NANAVATI SENIOR COUNSEL WITH MR ADITYA A GUPTA(7875)

for the Petitioner(s) No. 1 MR ANKIT SHAH(6371) for the Respondent(s) No. 1 MR PARTH H SALUJA(13326) for the Respondent(s) No. 2 ========================================================== CORAM:HONOURABLE MR. JUSTICE HEMANT M. PRACHCHHAK Date : 09/03/2026

JUDGMENT

1. RULE. Mr. Ankit Shah, learned counsel waives service of notice of rule on behalf of respondent No.1 and Mr. Parth H. Saluja, learned counsel waives service of notice of rule on behalf of respondent No.1.

2. The petitioner has filed present petition under Article 226 and 227 of the Constitution of India r/w the provisions of Section 125, 124 and 469 of the Companies Act, 2013 and also under the provision of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, with below mentioned relief/s:-

"22 (A) BE PLEASED to issue any appropriate writ, order or direction in the nature of certiorari, mandamus or any other writ, order or direction to quash and set aside the communication dated 15.05.2023 issued by Respondent No. 2 at Annexure N to this petition and communication dated 29.05.2023 issued by Respondent No. 1 at Annexure O to this petition and to further direct the Respondents to allow the application bearing Form IEPF -5 bearing SRN F60497815 and to transmit the shares from the name of the Petitioner's mother Kala Arvind Nanavati in the name of the Petitioner Daksha Nanavati in the interest of justice.

B) BE PLEASED to direct the respondent No 1 to transmit the amount of dividend admittedly transferred in the account of Respondent No 1 by Respondent No.2 as reflected in the entitlement letter at ANNEXURE F, dated 05.04.2023, in the bank account of the petitioner, the details of which have been submitted to the Respondents in the interest of justice.

C) BE PLEASED to direct the respondent No.2 to transmit the amount of dividend for the shares as per entitlement letter at ANNEXURE F, dated 05.04.2023, which has not been transmitted to Respondent No 1 in view of succession certificate, in the bank account of the petitioner, the details of which have been submitted to the Respondents in the interest of justice.

D) BE PLEASED to stay the communication dated 15.05.2023 issued by Respondent No. 2 at Annexure N to this petition and communication dated 29.05.2023 issued by Respondent No. 1 at Annexure O to this petition and to further direct the Respondents to allow the application bearing Form IEPF -5 bearing SRN F60497815 and to transmit the shares in the name of the Petitioner's mother Kala Arvind Nanavati in the name of the Petitioner pending admission, final hearing and disposal of the petition in the interest of justice.

(E) BE PLEASED to award exemplary cost to the petitioner considering that the Respondents have put the Petitioner who is a senior citizen to a lot of convenience and harassment in the interest of justice.

(F) YOUR LORDSHIPS BE PLEASED to pass such other and further order, which may be deemed fit in the interest of justice. "

3. It appears that the petitioner has challenged the communication issued by respondent Nos. 1 and 2 rejecting the petitioner’s application for transfer of shares in the name of the present petitioner on the ground that the shares were held in physical mode and were not reflected in the account. The respondents relied upon the provisions of the Rules of 2021, which amended the earlier Rules of 2016, and contended that the petitioner had failed to submit an indemnity bond execute